2024, A Year of No Significance -- Charles Hugh Smith

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Charles Hugh Smith -- Of Two Minds

September 17, 2024

Looking back, 2024 may well be viewed as insignificant compared to what lies ahead.

That 2024 could be a year of no significance does not compute given that what's being touted as the most important election in American history is 2024's landmark event, but in the focus of the longer lens of history, it may not matter as much as we expect.

If the election wasn't enough, the all-time stock market highs are the cherries on top.

The issue here isn't the people or the politics or the policies; it's the system itself reaching its limits, having exhausted all potential for the scale of change needed to stave off collapse. To better understand this historical context, we turn to Ray Huang's meticulous study of Chinese history, 1587, A Year of No Significance: The Ming Dynasty in Decline:

"The year 1587 may seem to be insignificant; nevertheless, it is evident by that time the limit for the Ming dynasty had already been reached. It no longer mattered whether the ruler was conscientious or irresponsible, whether his chief counselor was enterprising or conformist, whether the generals were resourceful or incompetent, whether the civil officials were honest or corrupt, or whether the leading thinkers were radicals or conservatives--in the end they all failed to reach fulfillment."

In other words, it no longer matters who's nominally in charge, or the policies being put in place: the system has lost the capacity to adapt radically enough to surmount the novel challenges it now faces. That the Ming Dynasty--and many other imperial regimes throughout history--faced the same limits is unsurprising when we recall that humanity is still running Wetware 1.0, the operating system that enabled our emergence as a unique species around 200,000 years ago. We are hard-wired to reach a point of hubristic, delusional faith in our own godlike powers which invites Nemesis. We're there, but we don't yet realize it.

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